Among the stocks which managed to record notable gains on Wednesday, one of the more notable upward movers was the Trigon Metals Inc (OTCMKTS:PNTZF) stock. Yesterday, Trigon was in the news after it made an announcement with regards to its imminent non-brokered private placement.
Trading Data
On Wednesday, PNTZF stock jumped 5.33% to $0.3792 with more than 7.5k shares traded, compared to its average volume of 6.5k shares. The stock has moved within a range of $0.3792 – 0.3800 after opening trading at $0.38.
Key Details
The news came as a source of significant optimism for investors and the stock went up by as much as 5% as a consequence. In this situation, it may be a good idea for investors to take a closer look at the announcement. Trigon announced yesterday that it was going to have a non-brokered private placement in which it was going to make an offering of as many as 4,444,444 units at the price of $0.45 each.
That would help Trigon in raising as much as $2,000,000 in the form of gross proceeds from the placement. A unit is going to be made up of one Trigon common share and half of a common share purchase warrant. It seems that the possibility of raising more capital led to some excitement among investors. At this point, it may be a good idea to add the stock to your watch lists.
Technical Data
PNTZF stock is trading above the 20-Day and 50-Day Moving averages of $0.3585 and $0.3752 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.3301.
